Cadeler Q1 2026 Earnings Release: Strong Performance with Revenue Growth and Fleet Expansion

Cadeler A/S reported strong Q1 2026 financial results with revenue increasing to EUR 125 million from EUR 65 million in Q1 2025, driven by fleet expansion and increased contracted activity. EBITDA rose to EUR 47 million from EUR 24 million. The company's fleet of ten operating vessels achieved a 47.6% utilization rate, impacted by transit periods and maintenance activities. Cadeler maintains its full-year 2026 guidance, expecting revenue between EUR 854-944 million and EBITDA of EUR 420-510 million. The company completed a EUR 175 million private placement to finance two new T-class wind installation vessels for 2030/2031 delivery and support scour protection activities. Order backlog remained robust at EUR 2,705 million, with 82% relating to projects with final investment decisions. Cadeler continues to expand its offshore wind operations and maintenance activities through its Nexra platform.